Ollie's Bargain Sales Surge And Margin Recovery Are Bullish Signs, Analyst Sees 27% Upside
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Bradley B. Thomas reiterated an Overweight rating on Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI), raising the price target to $93 from $79. The company reported Q2 FY23 sales growth of 13.7% Y/Y to $514.5 million, beating the consensus of $499.0 million. The analyst believes OLLI will continue to benefit from the robust closeout environment, a recovery in margins, its remodel program, and new store growth.
September 01, 2023 | 6:55 pm
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Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) has received an Overweight rating from KeyBanc Capital Markets analyst Bradley B. Thomas, who raised the price target to $93 from $79. The company's Q2 FY23 sales growth and future prospects are seen as positive.
The analyst's positive rating and increased price target indicate a bullish outlook for OLLI. The company's strong Q2 FY23 sales growth and the analyst's belief in its future growth potential are likely to have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100